How can you use event tracking to measure the impact of your growth hacking campaigns?

2 How to set up event tracking?

To set up event tracking, you need to use a tool that can capture and store the data on your user events, such as Google Analytics, Mixpanel, or Amplitude. These tools usually provide a code snippet that you need to insert into your product or website code, and a dashboard where you can view and analyze the data. You also need to define the events that you want to track, and assign them names and properties. For example, you can name an event as "Sign Up" and assign it properties such as "Source", "Plan", and "Referral Code". You can then use these properties to filter and segment your data.

3 How to use event tracking for growth hacking?

Event tracking can be a useful tool for growth hacking, allowing you to measure your key metrics and goals, such as acquisition, activation, retention, revenue, and referral. You can also use it to run experiments and tests on different strategies and tactics, and compare the results based on the events that you track. Furthermore, event tracking can provide insight into how users interact with your product or website and what pain points or opportunities they have, so that you can optimize your user experience and value proposition.

4 What are some best practices for event tracking?

To make the most of event tracking, you should plan ahead and be consistent in your naming and formatting conventions. You should also focus on tracking the events that are relevant and meaningful for your startup. Validation and testing of your events is essential to ensure they are working properly and accurately. Regular analysis and action of your data is important to improve your growth hacking campaigns. Use your event tracking tool to create reports, charts, and dashboards to visualize and understand your data. Generate hypotheses, run experiments, and make decisions based on evidence from the data collected.

5 What are some examples of event tracking for growth hacking?

To give you some inspiration, here are some examples of event tracking for growth hacking. Dropbox used event tracking to measure how users adopted their referral program, which offered extra storage space for inviting friends. They tracked events such as "Invite Sent", "Invite Accepted", and "Referral Bonus Earned", and used them to optimize their referral program and increase their viral growth. Airbnb, on the other hand, used event tracking to measure how users responded to their professional photography service, which offered free photos for hosts who listed their properties. They tracked events such as "Photo Requested", "Photo Uploaded", and "Photo Approved" to test the impact of their service on their conversion and retention rates. Finally, Uber used event tracking to measure how users engaged with their surge pricing feature, which increased the fares during periods of high demand. By tracking events such as "Surge Alert", "Surge Acceptance", and "Surge Ride", they were able to optimize their pricing algorithm and balance their supply and demand.